Annual report pursuant to Section 13 and 15(d)

COMMITMENTS AND CONTINGENCIES (Tables)

v3.23.1
COMMITMENTS AND CONTINGENCIES (Tables)
12 Months Ended
Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]  
SCHEDULE OF ANTICIPATED FUTURE LEASE COSTS
Anticipated future lease costs are as follows:
 
For the years ending  
December 31,
 
 
Building

leases
 
2023
 
$
959,630
 
2024
 
 
1,271,436
 
2025
 
 
1,077,415
 
2026
 
 
1,013,237
 
2027
 
 
370,172
 
Total lease payments
 
 
4,691,890
 
Less: imputed interest
 
 
(254,880
)
Present value of lease liabilities
 
$
4,437,010
 
SCHEDULE OF SUPPLIEMENTAL BALANCE SHEET INFORMATION RELATED TO LEASES
Supplemental balance sheet information related to leases is as follows as of December 31, 2022:
 
Operating leases
 
 
 
 
Right-of-use assets, net
 
$
4,415,859
 
 
 
 
 
 
Current liabilities
 
 
959,630
 
Non-current liabilities
 
 
3,477,380
 
     Total operating lease liabilities
 
$
4,437,010
 
 
 
 
 
 
Weighted Average Remaining Lease Term
 
 
4.01 years  
 
 
 
 
 
 
 
Weighted Average Discount Rate
 
 
4
%